The six cyber security challenges for business in 2023

Organisations are struggling to deal with six cyber security pain points, but there is hope out there

7th June 2023BlogStuart Favier

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Six cyber security threats for businesses and effective solutions

As cyber security threats continue to grow in number and complexity, businesses must invest more and more to protect themselves. Analyst firm IDC predicts global security spending will reach $219 billion in 2023 and grow to $300 billion in 2026. These are incredible figures and show that businesses are taking the threat of cybercrime seriously and spending huge amounts on trying to protect themselves.

However, the nature of the threat from cybercriminals means that attacks are increasing in number and complexity all of the time which means that some of the investment made is quickly negated. With the next year likely to be another record-breaking one for attacks, high-profile data breaches and ransomware attempts, businesses are facing a number of challenges.

There are six key challenges facing businesses. However, there is hope, with innovative solutions making a real difference to keeping data safe and cyber criminals out.

Cyber security threats around data. Data Security Solutions from Northdoor

1. Security fatigue: overcoming alert overload

The figures from IDC show that there is a serious investment in security tools. However, the influx of alerts and warnings can overwhelm staff, leading to security fatigue. Vital alerts are easily missed or ignored amid the constant noise. One solution is to integrate tools into existing tech stacks for proactive and dynamic threat detection. By leveraging a team of expert security analysts, businesses can receive timely and actionable intelligence, reducing the burden of continuous alerts.

2. Skills gaps and staff shortages: extending security capabilities

The scarcity of skilled cyber security professionals poses a significant challenge for organisations. With an estimated workforce gap of 3.4 million, the risk of breaches intensifies. To address this issue, cybersecurity “concierge services” offer businesses the ability to augment their existing teams or instantly access security experts for monitoring security events. This approach alleviates the pressure of finding and retaining security talent, and supporting existing IT/security teams.

3. Identifying vulnerabilities and security gaps: proactive risk mitigation

Cybercriminals launch sophisticated attacks, making it increasingly difficult to identify vulnerabilities and security gaps, particularly for strained security teams. Establishing a managed security partnership enables businesses to discover, assess, and fortify their environments against threats. With 24/7 monitoring of vulnerabilities and system misconfigurations, organisations can stay one step ahead of potential breaches.

4. Increasingly complex regulatory landscape: navigating compliance challenges

Compliance and regulation are crucial for businesses, especially those handling sensitive data. However, the regulatory landscape is becoming more intricate, placing additional strain on IT teams. While compliance does not guarantee absolute security, adhering to regulations provides a solid foundation for secure practices. Engaging a managed security service team alleviates the compliance burden, allowing existing teams to focus on core responsibilities.

5. The weakest link – human error: empowering employees through training

Human error remains the weakest link in most companies’ security practices, leading to a majority of breaches. Inconsistent cybersecurity training exacerbates this vulnerability. Shifting employees from the weakest link to the strongest requires regular, updated microlearning sessions that influence behaviour and foster a security culture. By delivering engaging and informative training, businesses can empower their workforce to protect data actively.

6. Increasing threat, increasing solutions, increasing complexity

The nature of the increasing threat from cybercriminals means that businesses are investing more than ever in cyber defences. Trying to keep pace with the ever-changing threat landscape can have the opposite effect. Implementing increasing amounts of cybersecurity solutions means increased complexity within your systems, thus reducing the effectiveness of them and your IT team. The integration process itself is a time-consuming and complex task which can only be accomplished if your tools are interoperable and take your team away from other business-critical tasks.

Simplifying this process is key to success. By implementing a vendor-agnostic managed service tool, companies can be confident that not only will it work with your existing tech stack, but also immediately provide a monitoring and response service.

Protect your business with tailored cyber security managed services

At Northdoor, we understand that every business has unique cyber security needs. That’s why our managed service for cyber security is designed to be comprehensive and modular, allowing us to tailor our solutions to your specific requirements. Whether you need a complete end-to-end solution or targeted enhancements to your security measures, we’ve got you covered.

Take control of your business’s security today. Contact Northdoor to discuss our flexible and customisable cyber security managed service that aligns with your business objectives.

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